Solar photovoltaic (“PV”) system specialist, Solarvest Holdings Berhad (“Solarvest” or the “Group”) and United Overseas Bank (Malaysia) Berhad (“UOB”) are teaming up for an upcoming collaboration to encourage the use of green energy, in particular solar photovoltaic (“PV”), amongst the commercial, industrial and residential segments.
Announcing this at the 10th International Greentech & Eco Products Exhibition & Conference Malaysia (“iGEM 2019”), Solarvest and UOB will enter into a formal partnership to create more awareness campaigns and nationwide roadshows to promote the benefits of green energy, in particular solar photovoltaic (“PV”).
In addition, the collaboration will also look into developing customized financing solutions that cater to various user segments.
Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄) said, “At Solarvest, we offer end-to-end solutions of solar PV systems from design all the way to installation and maintenance. This provides our customers with a seamless process to start using solar PV energy. By teaming up with UOB to provide customized financing solutions, this will further encourage the use of solar PV energy as the initial investment cost is reduced.”
Solarvest and UOB had previously worked together in July 2019 to jointly sponsor an event organized by Malaysian Investment Development Authority (“MIDA”) in Kuantan, Pahang which attracted close to 100 attendees. At the event, MIDA’s Green Technology Division provided policy updates and incentives available for those interested in green energy.
Recently, UOB also partnered with Solarvest for series of roadshows such as the Malaysian Photovoltaic Industry Association’s National Solar Roadshow held in Johor Bahru in September 2019 to educate and encourage the uptake of solar PV installations on commercial and industrial rooftops.
“This is one of the many strategic plans we have in our pipeline as we strive to fill the gaps in the industry. We will continue to explore for more partnership opportunities to drive adoption of solar energy and be at the forefront of this growing industry,” he added.
These initiatives are aimed to support the Malaysian Government’s goal of achieving 20 percent electricity generation from renewable energy sources by 2025.